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within the republican party, and once that 113th convenes the president can institute obama tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage
don't have to write a check on january 2nd. he'll have time, then, to introduce the obama tax cuts and basically dare the republican -- the 113th congress not to vote for him. >> when he puts out his plan, then you hear, chris, i was very intrigued by the statement that charles made on fox, that the obama offer is worse than what was offered to general lee at the end of the civil war. listen to this. >> it's not just a bad deal. this is really an insulting deal. what git near offered on the screen, robert e. lee was offered better deals and he lost the civil war. this is almost unheard of. mine, what do they expect? they obviously expect republicans to cave on everything. i think republicans ought to simply walk away. >> chris, i think with lincoln outdone, i think he could have used a better analogy. >> look, the funny thing is the end of that statement, which is, i keep saying, rush limbaugh keeps saying, walk away. walk away. if they walk away, all of the taxes go up. the delicious irony, i will note, is to have them sunset so the cost was lower than what it would be if therm pe
company in pennsylvania today to call on congress to extend tax cuts for the middle class. president obama playing a little hardball accusing republicans of playing politics at the expense of american families. >> it's not acceptable to me and i don't think it's acceptable to for you republicans to hold tax cuts hostage because they don't want rates on upper folks to go up. >> john boehner scheduled a last minute news conference. fired back with this. >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. >> as the rhetoric heats up, the clock continues to tick down. after today, there are just ten legislative days on the calendar. the house announced they will be recessing one day early next would he week. joining me now from the white house, white house correspondent kristen welker. what's the latest from 1600 pennsylvania? >> well, good afternoon, craig. as you can see the holiday decorations are going up here at the white house. but it doesn't seem like anyone is in the holiday
. and they are waiting for fema to help for more than a month. >> i told president obama you told us you would cut the red tape. the middle class gets the royal finger. he said fema worked for me. fema ain't doing anything. >> steve: it a town hall that turned into a town brawl. ready to almost go over the edge? looks like you have a friend as well rick. >> as promised brian cashman and bobby valentine. bobby's first time and he wants to go face first. we'll see if that can happen. right now we'll go to break. "fox and friends" is back in two minutes. [ malannouncer ] it'that time of year again. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. a hybrid? most
. again, two years ago, president obama signed and extended what i call the bush obama tax cuts. i think we need to do that, for some certainty to the economy and talk about looking at some real spending cuts, as well. >> some are criticizing this and calling it a very aggressive plan that the president has pushed forth. in public comments like the one we heard from boehner, reid, both sides taking really hard stances. but some insiders saying that a deal is within reach and much of it is for show now. new jersey democratic congressman rob andrews told politico this. there's the public choreography, then there is the real choreography. it may be something you alluded to. to reach a deal it has to look like there was a lot of fighting before the deal was reached. what's your response to that? do you think that there is a lot of grandstanding going on here? and we're actually going to make the deadline that the president suggested, which is before christmas? >> there's always a lot of grandstanding in washington on both sides. this is my first term in congress. i think mosts americans are
obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime percent man date when he only received half. what impact is this having on the psyche of the gop. >> it is affecting the psyche of the president. he's act being like he did win a huge victory . he did win a substitute victory and what happened to the republicans is, they are fearful of all of these taxes going up they are trying to a bargain in good faith to give away something and then say if you will give us something and make us look good. don't humiliate us. the democrats are humiliating the republican party in making that offer . i think their own dignity and principles and beliefs, what republicans ought to say is, we think that extending the tax cuts pay roll and bush tax cuts is good for economy and america and consistent with our principles and blives and you are not going to put a gun to our head and testimony us to give up all of these things and we'll vote thes
. president obama with a big kind of pep rally at the white house to push those tax cuts for the middle class and republicans on capitol hill saying no, no, no, we hate the middle class. come on. let's give tax cuts to the rich! the millionaires and the billionaires, to the koch brothers and donald trump. we'll bring you up to date and give you a chance to sound off on the issues which i know you can't wait to do. you can do it by giving us a call at 1-866-55-press. you can join the conversation on twitter at bpshow on facebook, facebook.com/billpressshow. and if you really want to get into it with your fellow "full court pressers," go into the chat room. try it out. it is a lot of fun. go to current.com and click on the chat room and you are in! here we are. lucky day. thursday november 29 for somebody. >> it wasn't that lucky. you're still here. peter ogborn and dan henning good morning guys. leading team press with phil backert and cyprian bowlding. cyprian and i had our powerball tickets. we were ready, we were
president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of state. susan collins says she will not back rice for the job, until more questions on the attack on the u.s. consulate in libya are answered. collins said if president obama nominates senator john kerry instead, he would have no trouble winning confirmation. >>> and breaking news out of new york. lindsay lohan has been
? we've just had an election. the people had a choice between mitt romney and president obama who said let's have a balanced plan, and let's give tax cuts to the middle class. what is he talking about? this is about tax cuts. the president is saying, renew the payroll tax cut. give tax cuts to every dollar earned up to $250,000. i don't know what they're thinking, thomas. but obviously, they are putting it all on the line for the koch brothers and sheldon adelson who earn billions of dollars. they're selfish. and there's a group called patriotic millionaires who are saying please, please, tax us fairly. and here's the point. the president is saying to the millionaires and billionaires, we're just taking you back to the tax rates that you had when bill clinton was president. and i would like to remind everybody, we had the greatest prosperity then when everyone paid their fair share. 23 million new jobs. and why is it? because the middle class had the money to spend out there, to stimulate this economy. it's a consumer-driven economy. about 70% of the economy is consumer driven. and the
on how to avert a series of tax increases and spending cuts beginning in january. >>> president obama will have lunch in just a few hours with mitt romney. it will be the first time they have met face to face since the final debate shortly before this month's election. the event will be held at the white house. it is private, no aides present, no media, just the president and the former gop nominee. they will hash it out. >> should be interesting. >> maybe he will bring mitt into the fold. who knows. >> we'll see. >>> just from the labor department the number of americans filing first time unemployment claims fell last week. the decline comes as impact of superstorm sandy eases a bit. this morning, stock futures are moving higher on encouraging news from washington on the "fiscal cliff" issue. ashley morrison of cbsmoneywatch.com joins us. good morning, ashley. >> reporter: good morning, to you, frank and michelle. asian markets got a lift this morning on growing optimism from debt talks in washington. tokyo's nikkei rose 1% while hong kong's hang seng also gained about 1%. the improv
of president obama's plan to cut fiscal spending, invite someone for lunch and have us pick up the tab. >> we're all picking up the tab for that lunch. >> that's right. >>> "early start" continues right now. >> suddenly rich. so far we know of two winning tickets for the record-breaking powerball jackpot. >> lunch date, mitt romney meeting with president obama. >> and only in new york. a zebra hot on the heels of a pony in new york city. >> never thought about hot on the heels of a pony. okay. >> i'm christine romans. >> i'm zoraida sambolin. >> in egypt the u.s. embassy in cairo is closed. no one is being allowed in or out of the embassy now. embassy officials say the entrance is blocked by protesters as clashes erupt nearby. massive demonstrations against president morsy threatened the new young government after a degree last week extending his powers to an e uneasy level for some egyptians. americans in cairo going to the embassy for business, please don't. no one is going in or out of the embassy in cairo. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff neg
. it is a matter of how you do it. >> this is why, although obama's proposal did not talk about spending cuts and i wish he had, he talked about stimulus and infrastructure spending as part of his proposal. they will spend some on infrastructure. they are worried about the economy. very anemic in the first half of next year. connell: what do you make of it? >> we do not have a choice. we have to raise revenue. we have to cut spending. we have to get on a more solid path. there will be a cost to it. the other problem is, you know, to your point, when you talk about, let's say you use the word tax reform, what does that mean, they will deal with either the mortgage deduction, the charitable deduction or the state tax deduction. think about how that affects the behavior of individuals. that is all coming down the road. that will come and it talked about exterior. it really affects people's behavior. connell: robert, always great stuff. thank you. we do have a little piece of breaking news that wave want to pass along. lottery officials are telling us that the mechanic and his wife are the missouri win
for coming by. >> now the fight over fiscal cliff, president obama stumping campaign style to prevent fast approaching spending cuts and expiring tax breaks and a potential economic disaster a month ago and toured a toy factory in pennsylvania, the company behind lincoln logs. the white house says the trip highlights the response extending the bush era tax cuts for everyone but now for any amount of money you make over $250,000. so everyone get as tax break but not anything over $250,000. that is the company's core customers and flames republicans for holding up the progress. republicans point the finger at the president. >> it is not acceptable to me or to you, i don't think, for a handful of the republicans in congress to hold middle-class tax cuts hostage. >> the white house took three weeks to respond with any kind of a proposal. to my disappointment, it wasn't a serious one. >>shepard: speaker boehner referred to meetings with the treasury secretary geithner. republicans called plan he layed out a step backwards, so much that top senate republican were mcconnell burst into laugh laugh
cliff on new year's day. that would mean automatic spending cuts and the expiration of tax cuts for most americans. president obama sent his top negotiator to the treasury secretary. tim geithner to capitol hill today. he met with leaders of both parties. republicans say they made no progress. and surprise, each party blames the other. >> the democrats have yet to get serious about real spending cuts. and, secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we have said it, we have said it, we have said it so many times the president said the same thing. it's been weeks, at least two weeks since we met at the white house and are still waiting for a serious offer from the republics. >> shepard: after his meeting with secretary geithner the senate minority leader mitch mcconnell said of administration officials quote today they took a step backward moving away from consensus and closer to that cliff. ed henry is live at the white house for us tonight. ed we are getting new informatio
of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv interview. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker boehner. he said it in an interview on bloomberg tv. the last time the two men spoke was almost a wee
to avert a series of tax increases and spending cuts scheduled to begin in january. >>> president obama will have lunch with mitt romney today the first time they meet face to face since their debate before the election. the event at the white house will be private. no aides will be present. no media will be allowed. >>> powerball ticketholders are checking their numbers twice today. >> yeah. good luck. the record-breaking jackpot $588 million. the numbers drawn last night just in case 5, 16, 22, 23, 29 and the powerball number was 6. two winning tickets sold in arizona and missouri. californians may be able to cash in though on powerball prices next year. it's not in our state but lottery officials are meeting this morning up in sacramento trying to hammer out details that would allow the golden state to join the 42 other states in the powerball drawing. california state officials say by adding powerball sales would add an additional 90 to $120 million in revenue. it cost $2 to play the game and the jackpot goes up as you can see -- >> you have friends where? >> back in new england a
for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: speaking at a factory, mr. obama argued that if congress can't get a deal, taxes will rise about $2,000 average for a family. of coal you get for christmas, that is a scrooje christmas. >> let's not kid ourselves. >> reporter: house speaker john boehner balked. >> increasing tax rates draws money away from the economy that needs to be invested in the economy to put people back to work. it is the wrong approach. >> reporter: bolder by his re-election, and criticized for being soft on republicans in the past, he drew a hard line, including $1.6 trillion in revenues, $600 billion in additional spending cuts, about half in medicare, and at least $50 billion infrastructure spending. >> we don't want to increase tax rates, we're not going to increase tax rates. and we want to do something about the spending problem. >> reporter: aides say senate minority leader mcconnell laughed after tim geithner showed him the offer thursday. t
extending middle-class tax cuts and it probably didn't hurt that the co-founder of costco is a big obama contributor. before he left, the vp used the phone of his cart driver, ivy stewart. to call her grandmother and leave a message. ivy was so moved by the whole experience, she wiped away tears. >> thanks for shopping with me. and i know you won't tell anybody what i bought for christmas yet. >> reporter: here's a hint from nat "king" cole's classic -- ♪ chestnut roasting >> reporter: the huffington held a caption contest for joe biden's checkout photo. our favorite, stopped by for some fire logs, went home with a flat screen tv. 32 inches. jeanne moos cnn -- ♪ -- new york. >>> well, that just ruins the christmas surprise about that television, but looking for love? when the politics are against you. we're going past the party lines. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. do y
middle income tax cut to the floor. >> reporter: later on today president obama will say that any deal reached in congress must include increased tax rates on the wealthiest americans. he will say that at a factory in hatfield, pennsylvania, where the company connects, makes tinker toys. that is company the white house picked for today's event because they rely on the middle class consumers who would be affected if we go off the fiscal cliff. martha. martha: that will be a major sticking point it sounds like. peter, thank you very much. bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down the road. 11.7% unemployment. that is another record high i
for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake tapper, abc new, the white house. >> that's scary, 11 days. fellows you sit up there until it gets wrapp
the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on those folks really doesn't address the m
and the white house. house republican leaders have made a counter offer to president obama in the fiscal cliff negotiations proposing to cut to true knowledge with a combination of spending cuts come entitlement reform, and new tax revenues. there was a three page letter signed by speaker boehner, majority leader eric cantor, and other senior republicans including representative paul ryan. and this mornings "washington journal," we heard about tax reductions and credits that would go away if the fiscal cliff passes in january. >> board or series looking into the so-called fiscal cliff, we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. joining us from the wall street journal is don mckinnon. thanks so much for joining us today. what are the loopholes and deductions? we hear those words a lot, but what are they? guest: loopholes or tax breaks of all different sorts, and whether you like a particular loophole or not depends on where you sit, i guess. there are lots of loopholes that are deductions. deductions are those that most people are
just yet. >> and i told president obama, you told us you were going to cut the red tape. and i told him, the middle class getting the royal finger. what did he say? fema works for me. fema ain't doing nothing still. they keep going around in a circle. >> this family joins us next to share their story. >> then so long dollar bill. hello dollar coin. why lawmakers say it's time for some more change. [ male announcer ] we all make bad decisions. like say, gas station sushi. cheap is good. and sushi, good. but cheap sushi, not so good. it's like that super-low rate on not enough car insurance. pretty sketchy. ♪ and then there are the good decisions. like esurance. their coverage counselor tool helps you choose the right coverage for you at a great price. [ stomach growls ] without feeling queasy. that's insurance for the modern world. esurance. now backed by allstate. click or call. >> 7:21 eastern. news by the numbers. 34 million. that's how many nutrition signs will have to be posted in pizza chains like dominoes. one for each pizza combination. thanks to obama care requirement. the cos
. you remember wimpy, popeye's friend, i'll gladly pay you tuesday for a hamburger today, and obama would gladly agree to spending cuts later for tax increases now. republicans have been rolling over on these kinds of deals since as long as i've been able to remember. since i was in garanimals with reagan and tip o'neill and the democrats then were promising spending cuts that never came, through george bush and george mitchell who came away from a similar deal with a big smirk on his face and no spending cuts. i think it's about time republicans stop rolling over and falling for these deals. please, because why do we have a republican party if they don't say no? >> steve: sure. and we've been talking about how the atmosphere on capitol hill officially with the big negotiators has been kind of gloomy. politico, the lefty blog, says that inside the talks with the people who are doing a lot of talks, contours of a deal including the size of tax hikes and spending cuts, it will contain are starting to take shape. so it does sound like even though both sides are still strident in what t
in the house and the senate and we had clinton, who was a democrat, we put work requirements in welfarr. we cut the nuer of people on welfare down from about five million to three million. then obama comes in and, so he reinstates it and takes the work requirements out and now people are outraged because we have these people on food stamp. melissa: stop this one next. this one is absolutely insane. thank you so much for coming on tonight. we appreciate your time. >> you bet. melissa: time for today's fuel gauge report. freshwater forecasts expected decline in inventories sent natural gas stocks soaring. a cold front expected to move into th u.s. raising the outlook for natural gas demand. oh, no. >>> freeport-mcmoran is plunging head first into oil. the mining giant is buying plains exploration and mcmoran exploration for a total of $9 billion in cash and stock. freeport will also assume about $11 billion in debt. >>> u.s. oil production reached its highest level in almost 15 years in september. new data from the energy information administration says u.s. crude output averaged 6.5 million barr
. wells fargo securities analyst. thanks for being with us. >> sure, thank you. ashley: instead of cutting government spending ahead of the fiscal cliff president obama wants to raise it by billions of dollars. does tax-and-spend work? gerri willis will help us break it down. i have a feeling i think what she feels. tracy: yeah, really. look at some winners and losers on the s&p 500 as we head out to break. the dow is practically flat right now. advanced micro devices up 5%. costco. tiffany on the downside one of your losers, down 2 1/2%. we'll be right back. ♪ ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. if you're eligible for medicare, you might know only c% of your part b medical expenses. threst is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help pay some of the difference. and could save you in out-of-pocket medical costs. you'll be able to
earners, but -- >> the middle-class tax cut should be made permanent. >> president obama stayed out of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have slammed him for campaign-style politics that they say just won't get the job done. rob and sunny, back to you. >> can you really imagine that they're not going to reach some sort of deal to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now, part of the negotiations where, the congressional control over the debt limit would go away
: president obama digging deeper on its fiscal cliff stopped earlier today saying we won't cut our way out of this deficit and it starts with raising tax rates on the wealthy but my next guest says this rhetoric could drive us right over that cliff. joining me now is douglas holtz-eakin, former director of the congressional budget office. and it -- you know your numbers, we know the fiscal cliff is going to have a huge impact if we go over it on this economy. before we get into the details are we in real danger of doing that? >> absolutely. this is an enormous heights in taxes, big cuts in spending, a hit to gdp that is 4% when we're growing and one.5, all the makings of a real problem and of fallout on consumer confidence will be severe. i think going over the cliff is unthinkable and something we should not contemplate. ashley: but the fundamental difference is the democrats say we have got to raise taxes on the top 2%. republicans putting forward their proposal saying revenue can be sorted through these deductions. is there any give? >> there has been some givee what they put out was no
and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on both sides said mcconnell burst out in laughing. house republicans offered a somber assessment. >> this is not a game. >> it was not a serious proposal. and right now, we're almost nowhere. >> reporter: lester, there is the inside game in washington and the outside game of public pressure that the president is trying to apply. he continues both of those this week. he meets with governors at the white house and more business ceos trying to get congress to move the votes in the house of representatives and get something done before january 1st. lester. >> mike, thanks so much. >>> still to come, charges dismissed against the u.s. open tennis ref who is accused of killing her husband. why the court decided to drop the case. >>> and discoun
that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> meanwhile house speaker john boehner says the latest proposal from the white house would cripple the economy. the plan calls for a boost in revenue by $1.6 trillion over the next decade. >> they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean it's, it's -- not a serious proposal. so right now we're almost nowhere. >> >> mike viqueira joins us live from the white house. where is almost nowhere? >> it's inside the beltway and it's business as usual. it's also december 1st, alex, and we have exactly one month now to avert the fiscal cliff and avert what everybody agrees would be economic catastrophe. of course that combination of $
. president obama's legislation to extend the middle class tax cut has already been passed by the senate and now depends on us. we should embrace this opportunity to vote on something we can agree on and bring this legislation to the floor. i have already signed this petition. i urge all my colleagues to come down to the house floor right now even sign this discharge petition, bring this to the floor, let's give the american people a real holiday present. thank you. the speaker pro tempore: the gentlelady from california yields back. for what purpose does the gentleman from rhode island seek recognition? >> mr. speaker, i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman from rhode island is recognized for one minute. mr. cicilline: last month the american people went to the polls and delivered congress a resounding message that republicans and democrats should be working together to solve their nation's problems. although our constituents have made it clear that the time for partisan games is over, and despite overwhelmi
reevaluated and then be resentenced. >>> president obama is taking his fiscal fight to the public. today he visited a toy factory in pennsylvania urging the crowd to persuade congress to increase the tax cuts. >> it's not acceptable to me or you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> we're willing to put revenues on the table. but revenues that -- that come from closing loopholes, getting rid of special interest deductions, and not raising rates. >> congress needs to reach an agreement in the next few weeks to avoid automatic hikes and cuts come january. >>> they bought just five tickets and picked numbers at random. that's how a missouri family lucked into the biggest powerball lottery of all time. cbs moneywatch reporter alexis christoforous shows us the recently jobless couple now the country's newest millionaires. [ applause and cheers ] >> reporter: the country's newest megamillionaires stepped into the spotlight. >> the hill family, come on up. >> reporter: cindy an
split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified cuts. the president for himself he's heading to a manufacturing plant in pennsylvania today to try to sell that idea. house speaker john boehner's reaction was essentially, get serious. so we want to talk about the numbers behind this. we're going to bring in ken rogoff, professor of economics and public policy at harvard university. you heard the specifics of the plan, $1.6 trillion in new taxes, $400 billion in unspecified cuts, $50 billion in new stimulus. how does this sound to you? >> well, it certainly sounds like a plan. and i do think we have to see some mix of higher revenues starting now and frankly going on into th
this administration, under president obama. and that has to be a part of this. that is where the republicans are insisting that we have a spending cuts and entitlement reforms that will got america on the right track moving forward. jenna: congresswoman, such a big topic. we only brushed the surface of it. we look forward to having you back to talk more about it. thank you so much. >> thank you. jon: right now a potentially explosive new development in the trayvon martin shooting case. lawyers for george zimmerman, releasing this photo. it shows the accused shooter with a bloody nose taken on the night of the deadly shooting. zimmerman as you might recall faces second-degree murder charges in the death of this man, 17-year-old trayvon martin. zimmerman claims he shot the teen in self-defense during a violent struggle and martin inflicted the bloody nose. does this change the arc of this case? let's talk about it with lose we will, fox news analyst and crystal panich a criminal defense attorney. the shooting happened and that photo was taken february 26th, 2012. >> right. jon: apparently the
didn't have a problem, i don't have a problem. got it? >> and all that matters. >> president obama plans to play host to his old political rival, mitt romney. >> on "cbs this morning." for lesss part of president afford to picko cut spending, invite someone to lunch who can actually afford to pick up the tab. you are probably waking up, wondering if you are a power ball multimillionaire. there's good news and then there's bad news. >> that's right. good news, there were two winning tickets for that record $587 million jackpot. re those ticketse dream lives on only if you live in missouri or anotherwhere those tickets were sold. havet there's another drawing this saturday and we'll have re stillthe big jackpot in just a bit. t> budget problems are still unresolved this morning and the same is true in washington. 33at's where we begin this morning. >> fiscal cliff deadline, president obama sends his treasury secretary to capitol hill to negotiate with congre congressional leaders. major garret is at the white house. good morning. >> charlie and norah, even as negotiations intensify,
laughed out loud thursday when he saw president obama's latest plan to avoid a middle-class tax increase. republicans are demanding more spending cuts. >>> and just as millions of americans shop online, rely on their gifts to be shipped by the holidays, the biggest seaports in the country are at a virtual standstill. union workers at the los angeles and long beach terminals are on strike. protesting outsourcing of jobs. 40% of all u.s. imports come through those terminals. negotiations are set to resume today. >>> very unusual scene just south of there, in san diego. an out-of-control truck slammed into a fire hydrant, sending water shooting cinematically 30 feet into the air. like a geyser. the truck actually plowed into a bar, leaving a gaping 11-foot hole in the wall. thankfully, no one was hurt. >>> now, here's diane sawyer, with a preview of tonight's "world news." diane? >> josh, great to talk to you on this friday. happy weekend to everyone on "gma." and coming up on "world news," please meet this young woman. i think you'll never forget her. an amazing story that teaches every on
-- >> it included the extension of the payroll tax cut and the extended unemployment benefits, too. >> i don't like the way obama started here at all. i mean, there were two ways to start the negotiations. one was did you ever see into guys like haggle over something and one guy says a dollar and the other guy says 1,000. and that's where they seem to have started. he could have started at 500 and then the republicans could have said maybe 100. but he started this thing, he put his foot forward like you know what, i'm willing to play this to the bitter end. this wasn't a thing that said let's get it done quickly. he sent geithner over. he used geithner's political capital which i think was a mistake for geithner. >> he's leaving. >> but it's like using -- >> going back to goldman. >> where he started. >> where he cut his teeth. >> like using a pitcher because you don't care about his arm at the end of the season. so you threw him out there and you send him over with -- and you also let the republicans characterize the plan. which from a pr standpoint i don't think was that smart. so i think they bl
might be stuck. a senior administration official told us that president obama and john boehner had a phone wallace night and politico was reporting that the phone call was curt. they said on the call john boehner told the president to leave the tax cuts for the rich alone. the president says he doesn't want to do that. he's going to stick with his plan to raise $1.6 billion in revenue and if republicans have something better they should be specific now. eric cantor said republicans are already going further than they did in the same spot in 2010. >> we have done our part. we have put revenues on the table, something we didn't do two years ago during the debt ceiling negotiations. >> we've seen some positive developments in the last several weeks, in terms of what republicans have been saying about the need for revenue as part of a balanced package. the president will continue to make the case that that is essential. >> reporter: so both sides saying revenue is on the table, now the fight is obviously to figure out where it's going to come from, how the government is going to make m
and spending cuts. republicans are asking for more details from the white house about how president obama would curb the growth of benefit programs like medicare and medicaid. >>> the woman who could be nominated as the next secretary of state got a big show of support wednesday in the face of growing republican criticism. president obama called susan rice extraordinary and said he couldn't be more proud of the job she's done representing the u.s. at the united nations. and outgoing secretary of state hillary clinton said rice has done a great job. rice has been under fire, though, for her initial comments about the deadly september attack on the u.s. consulate in libya. >>> president obama welcomes election rival mitt romney to the white house today. they'll have a private lunch together. the president promised in his victory speech to meet with romney after their bitter campaign and consider his ideas for making government more efficient. >>> and yet another arrest this morning for lindsay lohan. the troubled starlet was charged with assault around 4:00 a.m. in manhattan. she allegedly punche
a plan that includes $1.6 trillion in new taxes and $400 billion in spending cuts. it is essentially the budget proposal from last year, a plan republicans called a nonstarter. you can expect president obama to take more trips like the one he is making today to try to move the needle on these negotiations. willie? >> kristen welker at the white house. david gregory, moderator of "meet the press." good morning. >> good morning. >> if looking for reason to be optimistic a deal will be done, yesterday was not your day. by most accounts, treasury secretary tim geithner laughed off capitol hill literally by mitch mcconnell, john boehner says the white house offer is not serious. is this a breakdown in negotiation or the first steps in what will be a month of negotiation? >> the worst thing to watch on capitol hill is the progress of the negotiations because it is going to be a lot of huffing and puffing on both sides, posturing. the white house feels the president is in a very strong position to play the high cards in terms of tax increases, that's what he wants, that's what the american
reduction over the next decade. that includes $1.2 trillion in spending cuts and $800 billion in new tax revenue, but here's the key. no rate increases in the top 2% of taxpayers. that's non-negotiable for president obama. >> we're not going to be able to got a deal without it. >> reporter: the white house says the republicans' math just doesn't add up. >> it's magic beans and fairy dust. >> reporter: negotiations have reached a stalemate. >> there's nothing going on privately that is not going on publicly. >> reporter: there is no plan at this time for congressional leaders to meet with the president at the white house, and it doesn't sound like he's sending out invitations any time soon. >> i don't think that the issue right now has to do with sitting in a room. >> reporter: earlier, the president met with the bipartisan group of governors. >> we understand this will be a shared sacrifice, you have to look at spending cuts. states are willing to do more with less. >> the governors didn't endorse a specific proposal, not the white house version or the house republican version, but they
mentioned treasury secretary timothy geithner. he is being called in as president obama's point man on the fiscal cliff negotiations. he'll meet with congressional leaders this afternoon. republican representative tom cole. >> we have lots of leverage in this negotiation. nobody wants the spending cuts, particularly democrats on the domestic side to go places. this doesn't deal with that. we still have plenty of leverage in the negotiation. i actually think the american people, number one, should never be used as leverage in a negotiation. >> yesterday, president obama met with corporate ceos who said that a compromise is essential to avoiding the so-called fiscal cliff. here is ceo lloyd blankfein. >> reporter: if this were easy, we wouldn't be standing here having come fabs at the white house how to achieve it. it's going to be difficult. i think what we try to do is we try to get in as good a place as we possibly can. i would rather have more of the -- more of the taxes deferred to beyond the period where the economy is weak. >> well, maybe all of this is working. markets around
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